Is Penn Township, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Penn Township has remained a Seller's Market.
Housing Prices in Penn Township, IA
How much do homes in Penn Township, IA cost?
Median Sold Price
$329,900
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Penn Township was $329,900 in May 2024, up 10% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $155.5K | $133K | -14.5% |
3 Bedrooms | $262.5K | $246K | -6.3% |
4 Bedrooms | $357.5K | $390K | +9.1% |
5+ Bedrooms | $502.5K | $536K | +6.7% |
Summary: Penn Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.5%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 6.7%.
Median Sold Price Compared To Nearby Cities
Coralville | $292.4K | $344K | +17.7% |
Madison Township | $279.9K | $309.9K | +10.7% |
Penn Township | $299.9K | $329.9K | +10.0% |
North Liberty | $294.4K | $297.5K | +1.0% |
Housing Supply in Penn Township, IA
How many homes are available in Penn Township, IA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
74 | 68 | -8.1% |
Summary: The Penn Township real estate market had 68 homes for sale in May 2024, a 8.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 8 | -27.3% |
3 Bedrooms | 18 | 18 | 0.0% |
4 Bedrooms | 30 | 28 | -6.7% |
5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Penn Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 27.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 18 | +28.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Penn Township in May 2024, up by 28.6% month-over-month. Of the 18 sold homes, 50% were sold under asking, 39% were sold at asking, and 11% were sold over asking.
Days on Market for Penn Township, IA
How long does it take to sell a home in Penn Township, IA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 59 Days | +181.5% |
Summary: Homes in Penn Township had an average of 59 days on market in May 2024, up by 181.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 18 homes were sold in Penn Township; 44% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.